Price Isn't Everything

With the multiple offer situations we frequently find ourselves in this spring, a lot of thought should be put into how to present the cleanest offer that puts the client's best foot forward.  A lot of people might assume that the highest offer price will be the winning contract, and while that is often true it is not always the case.

Take my recent experience in Louisville, for example.  A home went on the market 24 hours before showings were allowed.  My client and I were among the first ones in the home the next day right as it was opened.  I was the first to call the listing agent to find out what kind of terms the seller was looking for ideally, and we were the first offer in.  It was a clean contract, with no contingencies or special requests.  Our closing date was flexible, down payment significant.  We offered more earnest money than was required, a lender letter, a personal letter from my client, and all of the signed disclosure the listing agent had uploaded to the MLS.  The opening bid was over the listing price, with an escalation clause up to $15,000 over.

We came in second.  To an even higher offer price.

Frankly, I was quite disappointed, as was my Buyer, but we knew we had done everything we could.  The sellers signed our offer as an official back-up, so the wait began.

The inspection period came and went.  Soon after I received a call from the listing agent, informing me that the appraisal had come in short of the agreed upon purchase price of the selected offer.  The sellers had agreed to meet their first-position buyer somewhere in the middle, requiring that buyer to come up with the difference in cash at closing.  She was unable to do so, but because my Buyer had such a large downpayment she was easily able to step in and meet to the seller's terms.

Had I been the listing agent, I would've warned my sellers about the possibility of this scenario, and counseled them on the pros and cons of each offer.  In the end, it's the sellers call, and it can be hard to turn down what appears to be a windfall in price.  But having to switch gears in the middle of a transaction costs the seller carrying costs, not to mention causing a delay in their plans to move on.  a financially solid Buyer can ultimately save time and money and give sellers peace of mind.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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An Ounce of Prevention

It's that time of year when the weather warms up and homeowners start thinking about outdoor projects.  One thing that should be on your list every year before deciding where to put your money and energy is a inspection of your home and yard.  Harsh winters can expose maintenance issues that, if taken care of straightaway, can prevent costly repairs down the line.

Examine your siding or brick.  If it's wood, fiber-cement or some other kind of composite material, check for areas that need paint touch-ups.  Especially along the last row of siding on a wall, rain and snow can begin to deteriorate the finish and allow moisture inside which can warp or damage the board or interior structure.  Check the manufacturer's recommendations on repainting and keep the surface and edges sealed.  Take a look at the bricks or mortar between for cracking.  Small cracks can usually be repaired, but bigger cracks may indicate a more serious structural issue.

 Inspect your windows and doors.  Extreme changes in temperature over the seasons can cause caulk to shrink and pull away from openings, especially if the house is also settling a bit.  Remove old caulk, clean the surfaces, recaulk and paint if required.  Also check for moisture or fogging in between the window panes.  This can indicate that the seal of the window is failing and has lost some of its insulating properties.  Often this can be repaired or replaced without having to change out the whole window.

Check your roof, gutters and downspouts.  If you aren't comfortable going up on your roof but it's been a long time since anyone else has, you may want to have it inspected by a licensed roofing professional.  Hail and wind can cause damage that you might not be able to see from the ground, which can allow moisture to seep into the structure below.  Ice, snow and holiday decorations can sometimes cause gutters or flashing to pull away from the structure.  These areas can then allow water to run down the fascia boards that can rot in time.  Be sure that your gutters are clean of debri and the downspouts are correctly routing water sufficiently away from your house so that the foundation is not affected. 

Take care of your deck.  Over time, nails can pop and boards can warp and cause tripping hazards.  Handrails sometimes splinter and can cause injury.  Sand and reseal or replace damaged boards.  Depending on your climate, you may have to power wash, stain and seal every year to keep the decking from absorbing any moisture.  Also, be sure to check your deck supports.  Look for loose screws or bolts, damage from insects or animals, or settling that may make the deck unstable.  Even decks with manufactured decking will have a wooden structure that can be affected weather or critters.

Examine your lawn and landscaping.  Getting your lawn aerated in the spring can improve water drainage and nutrient absorption.  Examine your trees and shrubbery for disease or insect infestations that can spread to other plants or even structures.  Once the last frost has passed, test your sprinkler systems for proper operation and leaking.  Check hoses and hose bibs for leaks.  Walk your driveway and sidewalks to make sure that there is no major cracking or heaving that may cause tripping hazards.  Severe cracking may indicate a settling problem that could further endanger your structures, so having them evaluated by a specialist is a good way to prevent further issues.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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Handling Your Objections

I have stated before that one of the important milestones during the process of buying a home is the inspection period.  It's the period during which a Buyer can verify that the home doesn't have any significant problems, such as roof leaks or a cracked heat exchanger in the furnace.  It's a chance for the Seller to address issues that they didn't know about when they priced and put the home on the market.

What it is NOT is a time to renegotiate the price after buyer's remorse sets in.  In this fast-paced market, buyers know that attractive homes sell quickly.  In Louisville this spring, homes are going under contract within hours of going on the market, often with multiple offers and closing at a price well above listing.  In the frenzy of negotiation, buyers sometimes don't stop to determine if they should be paying what they are being pushed to offer.

The Inspection Objection is the document that is used to convey any unsatisfactory results of inspections from Buyer to Seller once a purchase contract has been signed.  It includes specific requests to be done in order for the transaction to move forward, such as cleaning and certifying the furnace or having GFCI outlets installed in the kitchen and bathrooms.  Issues regarding safety and health and those that affect the integrity of the structure are perfectly reasonable items on which a Buyer would request repairs.

Other items, such as having popcorn ceilings scraped and repainted, are subjective and may not be something the Seller is willing to take care of.  The Seller would expect that the Buyer saw the ceilings already and took the cost of that work into consideration when submitting the offer.  In addition, in a competitive market like the one we're seeing this year, it's likely that there are back-up offers waiting in the wings.  Should the Buyer make capricious or unreasonable requests, the Seller might just refuse to make any changes and let the Buyer walk in favor of another Buyer who will accept the ceilings as they are.

It's important to discover unknown material facts about the home you are about to purchase; it is equally important to know how to handle this information once it is received.  It's one more reason why the experience of a Realtor is so valuable.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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New Listings

Are you free Friday morning?  Consider taking a tour of brand new listings in Lafayette and Broomfield.  The market is hot, and good properties are going under contract in a matter of days.  Even if you aren't quite ready to buy yet, seeing homes in person is an important way to start to understand the market so you will recognize a good value when you see it.

738 Sundown Drive - $389,500
This 3225 sqft home has three bedrooms upstairs with laundry.  Built in Silver Creek by Meritage in 2011, it's just a short walk to Old Town Lafayette.  Hardwood floors, granite countertops, stainless steel appliances, gas fireplace.  The unfinished basement holds lots of potential for expansion.

265 Peregrine Circle - $389,900
An opportunity to own in Broomfield's Eagle Trace.  This south facing home has 4 bedrooms and 3 baths, 3 car garage, a huge deck and private backyard.  It's walking distance from two parks, but it also backs to 136th Avenue, which for some could be a noisy deal-breaker.

14521 Prairie Sky Lane - $439,000
The listing agent on this property states that this home shows better than the model.  It it a 3 bedroom ranch with mountain views, a walk-out basement,  professional landscaping and almost 3500 sqft that are said to be "meticulously maintained."  We'll have to take her word for it as there are no pictures posted yet after being on the market for three days.

2653 Black Bear Court - $465,000
With over 4000sqft, this 5 bedroom, 4 bath, South Pointe home features mature landscaping, high-end kitchen, hardwood floors and a huge finished basement.  It's described as being very bright and open and showing like a model home.  The owners have just replaced the furnace and water heater for buyer peace of mind.

14713 Sorrel Drive - $599,000
Another listing without any pictures to show you, this Wildgrass home has great view of open space, city lights and the mountains.  It lists 3 bedrooms and 3 baths in a 4205 sqft ranch with an unfinished basement.  Even without photographs, houses are getting a lot of activity as buyers watch popular neighborhoods like Wildgrass for new listings.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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Tenant Sabotage

Only in this hot Louisville market, where buyers are hovering over a dearth of inventory, could an owner expect to sell a home in the condition that this one was in when I entered with my clients a few days ago.

I don't think we even noticed the other "appliances."

The smell of pot and dog pee accosted us as we entered the front door.  There were dirty clothes and empty food containers on every surface.  Mud was streaked across the front hall tile, and someone's lunch was ripening on the coffee table.  It only got worse the further in we went, and my clients, who normally see the potential in houses they don't even care for, were in and out in five minutes trying not to gag.  We declined to even open the two closed bedroom doors at the top of the stairs, a little worried about what might jump out at us.

It can be tough to keep a house in showing condition all the time, especially with children or pets in residence.  Even tougher sometimes is to get a tenant to cooperate with the owner's wishes, especially if the tenant is not thrilled about having to terminate the lease.  However, landlords can offer incentives to tenants to keep the home looking good, and I think it's money well-spent.  Even in this time of anxious buyers and multiple-offers, it's hard to overlook some things.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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1024 Turnberry Circle FOR SALE!

 

Looking for a great property in Louisville?
Check out this fantastic 2-story home in Coal Creek Ranch!

3209 total and finished square feet

5 bedrooms, 4 baths

2 car attached garage

Formal living and dining rooms

Eat-in kitchen

Family room with fireplace

Rec room and studio

Professionally finished basement with cast iron gas heater and wet bar

New hardwood floors

Backyard deck

Foothills view from upper bedrooms

Great neighborhood amenities including clubhouse, tennis courts and pool

Monarch schools

Home warranty included

$487,000

Open House Saturday, February 23, 1-3pm

 If you miss the open house, call me - it won't last long!

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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Paying It Forward

Those of you that personally know me and my husband, Dennis, know that community is important to us.  Dennis strives to make his martial arts school, Saeng Myong Martial Arts, an inclusive, accepting environment where all feel comfortable to train, ask questions, and reach out to others.  Five years ago, a couple of our students started the Gratitude Through Giving Scholarship Fund at the do jang.  Over the years, many young people have benefited from the generosity and caring of our student community that sustains the fund.

When I started my real estate business, it was important to me to find ways to give back to the people who trust me with their transactions and the community that allows my business to grow.  I donate 5% of my gross commission to local non-profits, and my clients get to select the charity that benefits.  Some of the recent recipients include Broomfield FISH, the Colorado Autism Society and Toys for Tots.

I believe in demonstrating that we value a person or service by putting in time, effort and resources to whatever degree we are capable.  Thank you to my clients, friends and family who have shown me that they care and believe in me through their business, referrals and love.

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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